行业研究 行业研究|战略新兴产业之光热发电 战略新兴产业之光热发电 政策+市场双加持 光热发电站上规模化新风口 文/工商部 范昱希 摘要 光热发电通过集热-储能-热力-发电的耦合实现"发电+储能"的一体化能力，具有稳定输 出、广域调峰的独特优势，然而其本身的经济成本、技术复杂程度使得其发展速度滞后于光伏 发电等其他发电方式，但随着新能源发电渗透率不断提升，"调峰需求高企+储能供给不足"催 生光热发电市场需求。同时，经过行业示范项目不断优化、技术不断迭代，当前光热发电已初 步具备规模化基础，但仍存在诸多亟待解决的难点，2025 年 12 月《关于促进光热发电规模化 发展的若干意见》（以下简称"《意见》"）的出台，成为光热发电行业从示范探索迈向规模化发 展的核心政策节点，为行业发展划定了清晰目标与路径。整体来看，光热发电作为构建新型电 力系统重要抓手，其对能源低碳转型与能源安全保障具有关键意义，在市场需求与政策引导的 双重加持下，行业将迎来规模化发展窗口期。 一、光热发电核心特征与技术路径 光热发电即为太阳能热发电，与我们熟知的光伏发电相比，虽然仅有一字之差，但其工作 原理、功能属性、低碳特征大不相同，这种差异决 ...

法国计划到2035年将最终能源消耗量在2023年的基础上减少约30%，降至1100太瓦时。其中，化石燃料 消耗量将从900太瓦时大幅下降至约330太瓦时，化石燃料在最终能源消耗中的占比将从2030年的60%降 至40%，并在2035年进一步降至30%。 中化新网讯 近日，法国政府颁布法令，正式启动2026年至2035年期间的第三个长期能源计划(PPE3)。 该计划基于三大基本原则：确保能源供应稳定和主权、到2050年实现碳中和以及稳定能源价格。该计划 将作为未来十年的政策框架，与法国政府于去年12月公布的修订版国家低碳战略、欧盟气候目标以及 《巴黎协定》保持一致。 在可再生能源方面，计划到2035年将水力发电装机容量扩大到28.7吉瓦，并通过大规模项目招标引入15 吉瓦的海上风电。太阳能发电的目标是到2030年达到48吉瓦，到2035年达到55-80吉瓦;陆上风电的目标 是到2030年达到31吉瓦，到2035年达到35-40吉瓦。对于太阳能发电，计划采用招标方式并引入上网电 价补贴机制，在2028年之前每年设定2.9吉瓦的上限。对于陆上风电，每年将进行两次800兆瓦(MW)规 模的招标，同时优先考虑对现有设施 ...

经济观察网 截至2026年2月11日，壳牌（SHEL.N）股价收于80.23美元，创历史新高，年初至今累计上 涨9.19%。其股价表现与化工业务的持续亏损形成分化，能否持续摆脱化工拖累需综合评估以下因素： 公司基本面 连续亏损：化工业务已连续四年年度亏损，2025年全年调整后亏损达11.2亿美元，第四季度单季亏损 5.89亿美元。 利润率低迷：2025年全球化工业务平均利润率为每吨148美元，同比下降4美元，四季度进一步降至140 美元/吨。 资产调整启动：公司已出售新加坡亏损资产，并计划对欧美高成本装置（如美国莫纳卡工厂）逐一评 估，可能关停或剥离。 股价异动原因 战略重心转移：公司优先发展液化天然气（LNG）和低碳能源，计划将2030年资本支出的10%投向低碳 业务，并提升股东回报至运营现金流的40-50%。 财务韧性：2025年第三季度自由现金流达100亿美元，支撑股息率3.60%及股份回购计划。 市场乐观预期：机构对LNG需求增长及成本削减（目标累计降本50-70亿美元）的看好，部分抵消化工 业务负面影响。 近期公司状况 化工遗留问题：欧洲装置面临高能源成本与碳关税压力，若剥离进度缓慢，可能继续消耗现 ...

Core Insights - The report emphasizes the strategic importance of energy and highlights the increasing complexity of energy security due to non-market factors [1][3] - Global energy security is facing challenges, with scores in four evaluation dimensions showing "two increases and two decreases" [1][3] Group 1: Global Energy Security - In 2025, global energy security will face challenges, with a shift in focus from "high-carbon energy" to "low-carbon energy" [2][4] - Fossil energy security is relatively controllable, while risks in the electricity system are becoming more pronounced [2][4] Group 2: Energy Transition and Sustainability - Despite a slowdown in renewable energy installations due to changes in U.S. policy, global energy efficiency improvements and emission reduction actions are ongoing, leading to an overall positive trend in sustainability [1][3] - The basic situation of fossil energy remains loose, but soaring prices of key minerals have only slightly improved affordability [1][3] Group 3: Geopolitical and Supply Chain Factors - Geopolitical turmoil and tight electricity supply have led to a decrease in availability, while oil reserves have rebounded but remaining capacity has declined [1][3] - The concentration of mineral supply has decreased system resilience, raising concerns about the security of key mineral supplies and the urgency for supply chain diversification [2][4] Group 4: Collaborative Energy Security - The report calls for a more inclusive, collaborative, and cooperative view of energy security, emphasizing the need for prioritizing development, safety, and multilateralism [2][4] - It advocates for balancing interests through dialogue and promoting practical cooperation across various fields, including energy investment, market construction, and climate governance [2][4]

近日 新疆巴音郭楞蒙古自治州 召开科技创新大会 表彰科技创新工作成效突出的 优秀企业 集团燃控公司巴州燃气 凭借在燃气产业科技创新中的 持续投入、突出成果及责任担当 巴州燃气作为库尔勒市主要燃气供应企业，承担着35万户居民的日常用气保障重担，其坚持创新驱动、 强化研发投入的做法，为自治州民生领域科技创新树立了标杆。 一直以来，巴州燃气始终将科技创新作为筑牢民生保障根基、履行社会责任的核心支撑，持续加大研发 投入力度，并形成了"投入—产出—再投入"的良性循环。在智慧燃气领域，公司引入人工智能预测系 统，搭建覆盖库尔勒城区的燃气智能监控网络，实现管网运行状态实时监测、异常情况精准预警，巡检 效率提升40%以上；在安全运维方面，投入专项资金研发适用于本地气候条件的燃气设备防腐蚀技术、 冬季防冻裂预警系统，建立"线上智能监测+线下快速响应"的双重保障机制；在低碳能源领域，积极推 进燃气与新能源融合技术研发，探索天然气掺氢模式，助力自治州能源结构优化升级。 面向未来 巴州燃气将 以此次获评为新起点 获评"年度自治州规上 企业研发经费投入20强企业" 巴州燃气 进一步加大研发投入 聚焦燃气安全防控 低碳能源利用 智慧服务 ...

Core Viewpoint - The company is committed to comprehensive business restructuring and innovation to enhance core competitiveness in response to challenging market conditions [1] Group 1: Business Restructuring - The company has submitted a comprehensive restructuring plan to the Korean Ministry of Industry, which includes the separation of its 1.1 million tons per year naphtha cracking facility and the integration of operations with a modern petrochemical facility producing 850,000 tons of ethylene [1] - The restructuring aims to optimize the layout of basic chemical production capacity [1] Group 2: Cash Flow Management - The company emphasizes the importance of strict cash flow management during the transformation period and plans to continuously review existing businesses [1] - The focus will be on expanding high-competitiveness and high-potential sectors while optimizing inefficient and non-differentiated businesses [1] Group 3: Future Outlook - The company aims to deepen collaboration in research, education, and international cooperation, leveraging technological advantages in low-carbon energy, semiconductors, artificial intelligence, automotive, and biotechnology to cultivate functional materials [1] - The goal is for environmentally friendly materials, including functional compounds, semiconductor process materials, green materials, functional copper foil, and hydrogen and ammonia energy materials, to account for over 60% of the business [1] - The company plans to restructure its mid-to-long-term R&D roadmap and build a collaborative cluster with universities, private enterprises, and global research institutions to strengthen its competitive advantage in materials [1]

Group 1 - The domestic equity investment market in China is undergoing structural changes, with major banks like Bank of China allocating significant funds towards key technology sectors [1] - The "Pudong Innovation Chapter" direct investment fund has been established with a total scale of 500 million yuan, focusing on strategic emerging industries such as artificial intelligence and new energy [1] - The fund's limited partners include strong players like Shanghai Trust and Pacific Insurance Group, enhancing its investment capacity [1] Group 2 - Bank of China has launched the "Integrated Cultivation Plan," which aims to support high-level technological self-reliance with a total allocation of 60 billion yuan, including 10 billion yuan for equity investment [2] - The plan will initially be piloted in five cities, targeting the cultivation of at least 100 high-quality enterprises with core technologies [2] - The funding pool combines equity and credit resources to provide comprehensive support throughout the enterprise lifecycle [2] Group 3 - The "Integrated Cultivation Plan" aligns with the 14th Five-Year Plan, focusing on sectors like integrated circuits and artificial intelligence, prioritizing companies involved in national technology projects [3] - The establishment of equity investment companies within banks can address the financing gaps for technology innovation enterprises, which often face limitations in traditional credit support [3] - A complete financing service system combining credit, equity, and debt is essential for supporting emerging growth enterprises [3] Group 4 - State-owned banks are actively expanding their "investment-loan linkage" business, which can enhance the overall financial service system for technology enterprises [4] - This approach not only supports the lifecycle of enterprises but also promotes the development of related banking services, improving asset yields and increasing non-interest income [4]

Core Insights - The market regulatory authority has made significant progress in promoting international standardization in various sectors, including low-carbon energy, biotechnology, artificial intelligence, and industrial networks, with a total of 505 international standard proposals submitted to ISO and IEC in 2025, representing a 15.83% increase from 2024 [1] - During the 14th Five-Year Plan period, China has submitted a total of 1,740 international standard proposals to ISO and IEC, marking a 32.12% increase compared to the 13th Five-Year Plan [1] - In terms of international standard formulation, China led the development and publication of 285 ISO and IEC international standards in 2025, which is a 26.67% increase from 2024 [1] - Cumulatively, during the 14th Five-Year Plan, China has led the formulation and publication of 1,183 ISO and IEC international standards, reflecting an 88.1% increase compared to the 13th Five-Year Plan [1] - The number of foreign language versions of national standards published reached 441 in 2025, with a total of 2,779 foreign language versions during the 14th Five-Year Plan, exceeding a 200% increase from the 13th Five-Year Plan [1] Future Directions - The market regulatory authority plans to continue advancing international standard development in emerging industries such as new materials, aerospace, low-altitude economy, and embodied intelligence, aligning with the suggestions of the 15th Five-Year Plan [2] - The focus will be on accelerating the opening of standard systems to enhance industrial competitiveness and contribute to the high-quality development of global industries [2]

Core Insights - In 2025, China plans to propose 505 international standard proposals to ISO and IEC across various fields, representing a 15.83% increase from 2024 [1] - During the 14th Five-Year Plan period, China has cumulatively proposed 1,740 ISO and IEC international standard proposals, marking a 32.12% increase compared to the 13th Five-Year Plan [1] - China will lead the development and publication of 285 ISO and IEC international standards in areas such as new energy and smart grids in 2025, a 26.67% increase from 2024 [1] - Cumulatively, during the 14th Five-Year Plan, China has led the development and publication of 1,183 ISO and IEC international standards, an 88.1% increase from the 13th Five-Year Plan [1] - In 2025, China will publish 441 foreign language versions of national standards and implement four special actions for foreign language versions related to Beidou navigation, intelligent manufacturing, cybersecurity, and the Belt and Road Initiative [1] - The total number of foreign language versions of national standards has increased to 2,779 during the 14th Five-Year Plan, over 200% growth compared to the 13th Five-Year Plan [1] Future Directions - The National Market Supervision Administration will continue to advance the development of international standards in emerging and future industries such as new materials, aerospace, low-altitude economy, and embodied intelligence, in line with China's 15th Five-Year Plan recommendations [2]

Core Viewpoint - The construction of the Yuedong LNG receiving station's gas storage project has officially commenced, marking a significant technological breakthrough in China's large-scale LNG storage and transportation facilities. Group 1: Project Overview - The Yuedong LNG receiving station will feature the world's largest land-based membrane LNG storage tanks, with a total gas storage capacity of 470 million cubic meters from three tanks [1] - The project is a core expansion and upgrade initiative for the receiving station, utilizing advanced membrane tank technology [1] - The total gas storage capacity of the Yuedong LNG receiving station will increase to 780 million cubic meters, with an annual processing capacity of 6 million tons [5] Group 2: Environmental and Technical Aspects - The new technology offers advantages in space utilization and economic efficiency, while also reducing overall carbon emissions by over 25% [3] - The membrane tanks can flexibly store various cryogenic media, including LNG, liquid ammonia, ethane, ethylene, and liquefied petroleum gas, facilitating seamless integration across multiple market demands [3] - Membrane tanks are designed with a nitrogen protection system and a full-process monitoring system to enhance operational safety [10] Group 3: Industry Growth and Future Projections - Since the start of the 14th Five-Year Plan, China's LNG receiving station construction has accelerated, with the annual receiving capacity expected to exceed 200 million tons by 2030 [10][16] - By the end of 2025, there will be 39 operational LNG receiving stations in China, with a total receiving capacity of 16 million tons per year, an increase of 7.34 million tons per year compared to the end of the 13th Five-Year Plan [12] - The number of operational entities in the LNG receiving station sector has diversified, increasing from 9 to 16, with a significant rise in the share of private enterprises [14]